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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | -17.3x - -19.2x | -18.2x |
Selected Fwd EBIT Multiple | -17.0x - -18.8x | -17.9x |
Fair Value | $0 - $1.60 | $0.75 |
Upside | -100.0% - 35.6% | -36.0% |
Benchmarks | Ticker | Full Ticker |
Beyond, Inc. | BYON | NYSE:BYON |
Arhaus, Inc. | ARHS | NasdaqGS:ARHS |
Lands' End, Inc. | LE | NasdaqCM:LE |
Wayfair Inc. | W | NYSE:W |
RH | RH | NYSE:RH |
Kirkland's, Inc. | KIRK | NasdaqGS:KIRK |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
BYON | ARHS | LE | W | RH | KIRK | ||
NYSE:BYON | NasdaqGS:ARHS | NasdaqCM:LE | NYSE:W | NYSE:RH | NasdaqGS:KIRK | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | 23.7% | 5.8% | NM- | -1.5% | NM- | |
3Y CAGR | NM- | 36.4% | -8.9% | NM- | -27.7% | NM- | |
Latest Twelve Months | -61.7% | -47.8% | 66.3% | 52.7% | -8.0% | 65.2% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | -2.0% | 9.7% | 3.3% | -4.2% | 18.1% | -2.0% | |
Prior Fiscal Year | -7.6% | 12.8% | 2.5% | -6.1% | 12.7% | -8.2% | |
Latest Fiscal Year | -13.7% | 6.8% | 4.4% | -2.9% | 11.1% | -4.8% | |
Latest Twelve Months | -13.7% | 6.8% | 4.4% | -2.9% | 11.1% | -2.7% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.05x | 1.11x | 0.39x | 0.53x | 2.15x | 0.50x | |
EV / LTM EBITDA | -0.4x | 11.3x | 5.6x | -29.0x | 14.2x | -121.9x | |
EV / LTM EBIT | -0.4x | 16.4x | 8.7x | -18.1x | 19.4x | -18.6x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | -18.1x | 8.7x | 19.4x | ||||
Historical EV / LTM EBIT | -129.8x | -10.5x | 8.9x | ||||
Selected EV / LTM EBIT | -17.3x | -18.2x | -19.2x | ||||
(x) LTM EBIT | (12) | (12) | (12) | ||||
(=) Implied Enterprise Value | 211 | 223 | 234 | ||||
(-) Non-shareholder Claims * | (212) | (212) | (212) | ||||
(=) Equity Value | 0 | 11 | 22 | ||||
(/) Shares Outstanding | 13.1 | 13.1 | 13.1 | ||||
Implied Value Range | 0.00 | 0.82 | 1.67 | ||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 0.00 | 0.82 | 1.67 | 1.18 | |||
Upside / (Downside) | -100.0% | -30.7% | 41.2% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | BYON | ARHS | LE | W | RH | KIRK | |
Enterprise Value | (28) | 1,360 | 520 | 6,213 | 6,768 | 227 | |
(+) Cash & Short Term Investments | 159 | 202 | 16 | 1,372 | 30 | 7 | |
(+) Investments & Other | 104 | 0 | 0 | 15 | 127 | 0 | |
(-) Debt | (33) | (499) | (262) | (4,221) | (3,938) | (219) | |
(-) Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 202 | 1,063 | 274 | 3,379 | 2,988 | 15 | |
(/) Shares Outstanding | 53.9 | 140.6 | 30.9 | 126.9 | 18.7 | 13.1 | |
Implied Stock Price | 3.75 | 7.56 | 8.86 | 26.63 | 159.52 | 1.18 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 3.75 | 7.56 | 8.86 | 26.63 | 159.52 | 1.18 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |